Hitachi Energy India reported a strong performance for the first quarter, with net profit more than doubling year-on-year as revenue surged 75% and EBITDA margins expanded sharply.
Net profit stood at Rs 294 crore in Q1, compared with Rs 132 crore in the year-ago period. The bottom line also beat the Street estimate of Rs 251 crore.
Revenue jumped 75% year-on-year to Rs 2,494 crore from Rs 1,429 crore, coming in ahead of the estimated Rs 2,320 crore.
ALSO READ: Q1 Results Live Updates: Hitachi Energy Profit More Than Doubles; Azad Engineering Revenue Up 26%
EBITDA rose more than threefold to Rs 364 crore from Rs 105 crore in the corresponding quarter last year. However, EBITDA was marginally ahead of the Rs 358-crore estimate.
EBITDA margin expanded to 14.6% in Q1 from 7.3% a year ago, although it was below the Street estimate of 15.4%.
The sharp improvement in profitability came alongside strong revenue growth, with both EBITDA and net profit significantly higher than the year-ago period.
ALSO READ: Hitachi Energy Confident Of 'Level Playing Field' As Govt Allows Select Chinese Firms In Power Bids
Hitachi Energy Q1 Result Highlights (Cons, YoY)
- Profit up at Rs 294 crore versus Rs 132 crore (vs Estimate of Rs 251 crore)
- Revenue up 75% at Rs 2,494 crore versus Rs 1,429 crore (vs Estimate of Rs 2,320 crore)
- Ebitda up at Rs 364 crore versus Rs 105 crore (vs Estimate of Rs 358 crore)
- Ebitda Margin at 14.6% versus 7.3% (vs Estimate of 15.4%)
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
